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Warrego Appoints CEO for Australian Operations

Source: 8/3/2020, Location: Not categorized

Warrego Energy Limited (WGO) (“Warrego”) announced that it had appointed Mr David Biggs as CEO of its Australian operations from 1 August 2020, reporting to Mr Dennis Donald, Group CEO and Managing Director. David, currently a non-executive director, will remain on the Warrego Board as an Executive Director.

David has more than 35 years’ experience in the upstream oil and gas sector working for large multinational and smaller scale organisations across Australia, New Zealand, UK, the Middle East, Africa, Indonesia and the Americas. His extensive commercial, gas marketing, project development and leadership skills, built in key senior roles at BHP Petroleum and more recently as CEO of both AWE and Cue Energy, will provide considerable momentum to Warrego’s Australian operations.

He will lead the Perth-based Australian team which is focused on commercialising the Company’s 50% interest in the West Erregulla gas field, progressing the EPA-0127 permit in Western Australia and pursuing further exploration opportunities.

The decision to appoint an experienced country CEO follows the appointment of gas marketing expert Cathy McKeagney as GM Commercial and the transfer of Warrego’s Australian HQ from Sydney to Perth. It completes the reorganisation of Warrego’s Australian operations and delivers four key strategic outcomes:

• Strengthens the leadership team in order to operate effectively in the COVID environment, where travel is, and will remain for some time, severely restricted;
• Allows the parallel development of projects in geographically diverse regions appropriate to market conditions;
• Aligns the Company’s resources with project maturity and time zones to enhance responsiveness and enable more proactive initiatives; and
• Provides a synergistic platform to accelerate growth and create value in each region for shareholders.

Announcements on further management changes will follow when appropriate.

Warrego Energy Group CEO & Managing Director, Dennis Donald, said:
“David’s appointment materially enhances our Australian operations. We can now fully utilise his extensive network of domestic and international industry contacts as we develop our Western Australian assets. His considerable experience and track record will prove invaluable during this busy phase of advanced negotiations for gas sales agreements and preparations for the exciting 2020/21 drilling campaign at West Erregulla.

“With David focused on our Australian operations, I will remain in the UK to oversee our non-Australian portfolio including building-out our European operating strategy, maximising shareholder value from both the very promising Tesorillo project and the El Romeral gas power project acquisition in Spain, and engaging European investors,” Mr Donald concluded.

Directors are aware that, as a result of David Biggs’ appointment as CEO Australia, the board will consist of a majority of executive directors and steps are being taken to address that imbalance.

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